You can touch the item to symbols of the four elements, saying
"I consecrate and bless this _______, by air (pass item through incence smoke or brush with a feather), by fire (pass item around the candle flame), by water (dip item in or sprinkle item with water and dry off), by earth (touch item to a stone, crystal, soil in a potted plant)."
You could anoint the item with oil. Generally the item has three Gifu runes traced upon it with olive oil. The oil is then rubbed into the item, if it is wooden. If the item is metal, it is wipped clean with a soft, white, cotton cloth.
An item could be washed in lunar water--especially if you wanted to fill it with a lunar charge.
You could raise an energy sphere between your palms and put the energy into the item.
However, it is very common to charge, bless, or consercrate an item by sprinkling it with salt water and then passing it through the incense smoke.
Pick up the item and say:
"I bless and consecrate this __________that it may be filled with power and excellence."
The sprinkle the item with salt water. Wipe it clean with dry, white, cotton cloth. Add a pinch more of incense to the lit charcoal. (White sandalwood is especially good for consecrating items during a full moon, but certainly other incenses can be used too.) While passing the item through the incense smoke, say:
"Aradia and Cernunnos, bless this ______ prepared in your circle. May it serve for good use only."
Be sure to bind the charge, just as you would bind a spell.